Doug MacIntyre
Doug MacIntyre
abundant demand gasoline prices reason seemingly supplies time usual
The prices are going up because of the usual seasonal build-up in demand this time of year. The reason we still have prices going up when inventories are seemingly abundant is that there's a lot of uncertainty about gasoline supplies in the future.
along anywhere capacity felt katrina market spare tight
Even before Katrina we felt the market was on edge, a very tight market, with very little spare (refining) capacity anywhere along the chain.
crude loss
There's still crude out there that can make up for any loss in production.
bottom higher low prices time
We don't see prices going as low as $2.50 any time this summer. They could bottom out much higher than that.
expect lower saying
I would expect (demand) to be lower ... than what we were saying before.
begin gas lose markets normally percent prices tight
We've got a lot more down now than normally would be. If gas markets are already tight to begin with and you lose 5 percent of the supply, prices are going to increase.
continue few likely rise weeks
We think they're going to likely continue to rise for a few more weeks at least.
affecting factor gas playing
It's playing a role, but it's not the only thing affecting gas prices, and it's probably not the most significant factor right now.
demand depends summer unfolds
Then it really depends on how the summer unfolds with demand and summer vacations.
gives indication price sort
That sort of gives an indication of the price impact. It's a big decline.
crude difficult envision looking
It's difficult for me to envision (the OPEC offer) having too much of an impact. Crude inventories here in the U.S. are looking pretty good.
chain draw globally katrina limits market oil perceived picture potential situation stretched supply tight vulnerable
What I draw from that is it confirms how tight the market actually is right now. To us, the big picture is we are in a situation globally and here in the U.S. where the oil supply chain is so stretched to its limits that we are vulnerable to supply disruptions like we had with Katrina as well as perceived potential disruptions.
crude demand fall gasoline impact labor ok question
We probably are OK (with gasoline supplies) to get to Labor Day, but the question is how much is demand going to fall off (after the holiday) and what's crude going to do and how does that impact the gasoline price.
There's a lot of uncertainty about the summer.